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Fortune Minerals Ltd T.FT

Alternate Symbol(s):  FTMDF

Fortune Minerals Limited is a mining company. It is engaged in the exploration and development of mineral properties in Canada. It is focused on developing the NICO Cobalt-Gold-Bismuth-Copper Project in the Northwest Territories and Alberta that produces a bulk concentrate for shipment to a refinery that it plans to construct in southern Canada. It also owns the satellite Sue-Dianne copper-silver-gold deposit located 25 kilometers (km) north of the NICO Deposit and is a potential future source of incremental mill feed to extend the life of the NICO mill and concentrator. It also maintains the right to repurchase the Arctos anthracite coal deposits in northwest British Columbia. It also has a 100% interest in these 116 hectares of property south of Great Slave Lake with copper, silver, gold, lead and zinc showings. It has a 1% net smelter royalty covering 78 hectares of land positioned in a former silver mining district, located south of the Eldorado mining district at Great Bear Lake.


TSX:FT - Post by User

Bullboard Posts
Comment by Nyno122on Jun 24, 2017 11:58am
243 Views
Post# 26401253

RE:RE:RE:Fortune mentioned in Financial Times article.

RE:RE:RE:Fortune mentioned in Financial Times article. Cobalt 27, a group set up to hold physical cobalt and reversed into a shell company, raised C$200m from investors at a price of C$9 a share to buy physical cobalt and future supply of the metal. Its shares were last traded on Friday at C$9.10.

The company’s holdings come from a group of investors including Switzerland-based private equity fund Pala Investments, who bought up cobalt over the past year as prices started to rise as a result of growing demand for the metal in electric vehicle batteries.

Produced as a byproduct of copper and nickel, cobalt is mostly mined in the Democratic Republic of Congo. Its price has more than doubled over the past year.

The price is expected to increase as analysts forecast a faster penetration of electric vehicles by the middle of the next decade. Demand from batteries accounted for about half of cobalt demand last year.

Only a few listed options exist for investors who want exposure to cobalt, including companies with projects in development such as Fortune Minerals, and Hong Kong-listed China Molybdenum, which last year bought the Tenke copper and cobalt mine in the DRC.

Bullboard Posts